Anheuser-Busch InBev/SABMiller deal deadline extended

SABMiller has been granted an extension on today's deadline for Anheuser-Busch InBev to make a firm takeover offer.

The UK Panel on Takeovers & Mergers has given the brewers a new deadline of 1700 GMT on 4 November.

On 13 October, SABMiller recommended a takeover offer from Anheuser-Busch InBev for GBP44 per share, valuing the company at around GBP68bn, with the initial deadline for agreement set for 1700 today.

In a joint statement released today, the companies said: "AB InBev has now completed its confirmatory due diligence review of SABMiller and reconfirmed the financial and other terms of the possible offer. AB InBev has also confirmed that facilities which will allow AB InBev to provide certain funds in support of the cash components of the possible offer have been negotiated and can be executed at short notice."

Next week's deadline is intended to allow both parties to "continue their discussions with respect to other aspects of the transaction..."

For a full review of AB InBev's offer, click the following link: